INSUBCONTINENT EXCLUSIVE:
The brokerage said that recent returns in the stock may cap near term upside.
Citi said the stock was a big overweight in its India model
(QoQ) rise in revenues at $3.21 billion, marginally missing street expectations.
Net profit rose 6.2 per cent sequentially to $572 million
In rupee terms, Infosys reported a drop in net profits by 1.8 per cent to Rs 4,037 crore over the corresponding quarter last year while
revenue grew 10 per cent to Rs 22,649 crore
better, even as the revenues missed expectations, slightly.
The margins offer some comfort in the light of a below-expectation Q2 show by
The brokerage has a target of Rs 690 on Infosys.
Domestic brokerage, Reliance Securities said despite a decent quarterly performance, a
clear-cut cautious outlook for financial services vertical owing to a lower interest rate regime (negative in some cases) in developed